Activist investor Carl Icahn urged Motorola (MMI.N) to consider splitting off its patent portfolio to cash in on surging interest in wireless technology from companies like Google Inc (GOOG.O) and Apple Inc (AAPL.O). Shares of Motorola Mobility Holdings Inc rose as much as 23 percent on Thursday as investors bet that Icahn's activism could result in a high valuation for the patents, after a hotly contested Nortel patent auction recently fetched $4.5 billion. Icahn, Motorola's biggest shareholder with an 11.36 percent stake, told Reuters there are many ways the company could make more money out of its patents while still retaining support for its cellphone and set-top box businesses. "One way might be to split off the operating company," the billionaire investor said, adding the handset and set-top box businesses could still have free use of the patents after such a move.
Motorola Mobility Holdings, Inc. is a provider of technologies, products and services that enable a range of mobile and wireline digital communication, information and entertainment experiences. Shares of MMI traded higher by 12.41% or $2.78/share to $25.19. In the past year, the shares have traded as low as $20.77 and as high as $36.54. On average, 3344260 shares of MMI exchange hands on a given day and today's volume is recorded at 25084192.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG traded higher by 1.96% or $11.64/share to $606.99. In the past year, the shares have traded as low as $447.65 and as high as $642.96. On average, 2873710 shares of GOOG exchange hands on a given day and today's volume is recorded at 3469850.
Apple Inc. (Apple) designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.1% or $0.39/share to $387.29. In the past year, the shares have traded as low as $235.56 and as high as $396.27. On average, 14990600 shares of AAPL exchange hands on a given day and today's volume is recorded at 18804148.
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